Nov 22 Reuters Some of the major banks in the world expect global economic growth to ease further in 2024, squeezed by elevated interest rates, higher energy prices and a slowdown in the world39;s two largest economies.
The global economy is forecast to grow 2.9 this year, a Reuters poll showed, with next year39;s growth seen slowing to 2.6.
Most economists expect the global economy to avoid a recession, but have flagged possibilities of mild recessions in Europe and the UK.
A softlanding for the United States is still on the cards, although uncertainty around the Federal Reserve39;s monetary tightening path clouds the outlook. China39;s growth is seen weakening, exacerbated by companies seeking alternative costefficient production destinations.
Following are forecasts from major global banks
Real GDP growth forecasts for 2024
GLOBAL
U.S.
CHINA
EURO AREA
UK
INDIA
Goldman Sachs
2.60
2.10
4.80
0.90
0.6
6.3
Morgan Stanley
2.80
1.90
4.20
0.50
0.1
6.4
UBS
2.60
1.10
4.40
0.60
0.6
6.2
Barclays
2.60
1.20
4.40
0.30
0.1
6.2
J.P.Morgan…